MINING  COMPANY, 

Incorporated  under  the  Act  of  the  State  of  New-York,  entitled  "An  Act  to  authorize  the  formation 
of  Corporations  for  Manufacturing,  Mining,  Mechanical,  or  Chemical  purposes,"  passed 

February  17, 1848,  and  amended  June  7, 1853. 

CAPITAL  $1,250,000.    SHARES  $5  EACH. 


President. 
JAMES  D.  SPARKMAN. 

JAMES  D.  SPARKMAN, 
P.  WENDELL  GROOT, 
BENJAMIN  DOUGLASS, 


Trustees. 


JOHN  COMPTON. 


Vice-President. 
P.  WENDELL  GROOT. 

JAMES  W.  OSBORNE, 
SAMUEL  T.  ARMSTRONG, 
EMMOR  GRAHAM, 


Office  of  the  Company,  No.  18  Trinity  Buildings,} 
BROADWAY,  NEW-YORK.  f 

The  object  of  this  company  is  to  work  two  of  the  most  valuable  Gold  and  Copper  Mines  in  North  Carolina.  These 
Mines  are  located  in  Mecklenburg  County,  North  Carolina,  known  as  the  Rhea  and  Catha  Mines,  and  consist  of  two  tracts 
of  land  ;  the  one  containing  five  hundred  and  seventy-five  acres,  and  the  other  of  one  hundred  and  twenty  acres.  ^  The 
former  of  these  tracts  is  situated  within  nine  miles  of  the  village  of  Charlotte,  North  Carolina,  and  the  latter  within  five 
miles.  This  village  is  the  terminus  of  the  Charlotte  and  South  Carolina  Railroad— running  to  Columbia,  South  Carolina, 
and  thence  connecting  with  Charleston,  South  Carolina,  and  also  of  the  North  Carolina  Railroad,  extending  eastwardly  to 
Beaufort,  Wilmington  and  Norfolk. 

To  show  the  value  of  these  mines,  the  following  report  by  Professor  Emmons,  at  present  the  State  Geologist  of  North 
Carolina  is  submitted. 

•    .  Charlotte,  May  26,  1853. 

P.  W.  Groot,  Esq. 

Sir, 

In  pursuance  of  my  duties  as  Geologist  of  North  Carolina,  I  have  made  a  survey  of  the  Rhea 
property,  situate  in  the  County  of  Mecklenburg.  This  property  consists  of  five  hundred  and  seventy-five  acres  of  land,  with 
veins  of  minerals  carrying  both  Copper  and  Gold,  and  the  necessary  buildings  for  the  accommodation  of  a  plantation.  The 
land  is  well  located  on  a  traveled  route,  and  is  pleasantly  situated  as  to  scenery,  beauty  and  health. 

The  vein  of  the  metals  occur  in  three  clusters.    The  first  and  most  westerly  cluster  is  made  up  of  four  veins  parallel, 
taken  in  pairs  thus — 1  and  2  parallel  to  each  other  ;  3  and  4  also  parallel,  or  nearly  so. 

The  course  of  one  and  two  is  N.  10°  E.    No.  1  has  been  worked  to  the  depth  of  seventy 
feet.    It  has  furnished  several  pockets  stated  to  have  been  worth  from  $6  to  $1  per  bushel.  Its 
average  yield,  taking  the  whole  vein,  has  exceeded  one  dollar  per  bushel.    The  width  of  the 
vein,  which  is  now  from  nine  to  twelve  inches,  has  increased,  &c.  with  its  increase  in  width,  it 
has  also  increased  'very  perceptibly  in  the  amount  of  Copper  pyrities.    This  accounts  for  an  im- 
portant fact,  for  the  yield  of  Gold  has  apparently  diminished  with  the  depth.  Not  because  the  vein  carries  less  Gold,  but  because 
the  ore  has  passed  from  the  brown  oxide  above  to  the  Copper  pyrities  below.    This  is  now  a  well  known  change.    It  would  be 
an  unfair  representation  of  the  value  of  the  vein  if  we  omitted  to  mention  the  fact,  that  the  only  method  pursued  at  this 
time  for  obtaining  the  Gold  has  been  by  the  drag  mill,  a  mode  which,  while  it  answers  a  very  good  and  useful  purpose  for 
amalgamation  where  the  quartz  is  already  pulverized,  but  is  not  at  all  adapted  to  the  works  of  reducing  it  to  a  powder. 
We  have,  therefore,  sufficient  ground  for  believing  that  considerable  Gold  still  remains  in  the  sand  which  has  passed  through 
mill. 

This  vein  is  well  formed  and  traverses  a  hard  rock,  with  regular  and  distinct  walls,  and  so  far  the  facts  go  to  prove  that 
it  will  continue  in  its  present  course. 

As  this  vein  has  changed  its  condition  materially  from  the  depth  of  fifty  feet  to  seventy,  by  an  increase  of  Copper  pyrities, 
which  is  scarcely  mixed  at  all  with  iron  pyrities,  it  is  highly  probable  it  will  still  continue  to  change,  and  finally  to  become  a 
good  Copper  vein. 

This  may  be  expected  at  the  depth  of  one  hundred  feet. 

The  third  vein  runs  in  an  oblique  course  to  the  first,  and  for  a  distance  of  several  hundred  feet  lies  to  the  West  of 
No.  1,  which  it  intersects  as  represented  in  the  diagram.  This  vein  upon  the  hill  has  been  worked  one  hundred  feet  deep. 
Portions  of  this  vein  were  found  to  yield  $6  to  $1  per  bushel  ;  vein-stone  resembles  the  former.  At  the  bottom  of  the  hill 
at  the  branch,  it  is  worked  only  to  the  depth  of  six  feet,  and  the  vein  is  still  all  standing  South  of  the  branch. 

Southward  these  veins  may  be  traced  about  one  mile,  and  North  of  the  branch  one-fourth  of  a  mile. 

These  two  veins  constitute  a  mine  in  themselves,  and  will  warrant  the  erection  of  a  steam  engine  for  working  them,  when, 
if  the  mining  works  are  properly  conducted,  will  pay  a  handsome  profit  to  the  owners. 


The  second  cluster  is  about  a  one-third  of  a  mile  Eastward.  There  is,  however,  only  one  vein  which  has  been  worked. 
It  is  three-fourths  of  a  mile  long. 

Shafts  have  been  sunk  upon  it  at  various  places  and  much  Gold  obtained,  but  the  value  of  this  vein  is  not  yet  fully 
tested,  its  length  and  regular  course  show  that  it  is  a  strong  vein. 

It  has  been  worked  only  to  the  depth  of  thirty-five  feet  at  one  shaft,  portions  of  the  vein  yielded  here  three  to  four 
pennyweights  to  the  bushel.    It  has  been  worked  in  the  same  rude,  imperfect  way  as  those  already  noticed. , 

The  third  cluster  of  veins  is  South-Westerly  from  the  latter.  The  vein  here  is  narrow,  being  only  from  four  to  six  inches 
wide.    It  is  worked  thirty  feet  deep  and  has  yielded  three  dollars  to  the  bushel. 

The  walls  of  this  vein  are  hard  and  not  so  easily  drilled  as  the  former.  It  is  like  the  others,  however,  sinking  down 
vertically.  Without  placing  an  undue  value  upon  this  last  vein,  there  is  scarcely  a  doubt  respecting  the  permanence  and 
value  of  the  two  first,  which  I  have  briefly  noticed. 

The  first  is  like  the  others,  a  decided  indication  that  the  vein  will  be  permanent. 

Persons  therefore  who  feel  disposed  to  engage  in  mining,  may  safely  make  an  investment  in  the  Rhea  property. 
The  capabilities  of  the  soil  are  not  to  be  overlooked,  for  with  a  tillage  adapted  to  the  nature  of  the  soil,  the  plantation 
itself  will  furnish  a  source  of  gain. 

Its  agricultural  and  mining  capacities,  therefore,  are  recommendations  not  always  connected  together,  or  met  with  upon 
one  plantation.  ( Copy.)  E.  EMMONS. 

For  further  information  as  to  the  mineral  value  of  these  lands,  the  following  communications  from  gentlemen  of  high 
character,  and  great  experience  in  mining,  are  submitted. 

"  On  the  Rhea  estate  two  distinct  veins  have  been  discovered  which  run  parallel  to  each  other  in  a  direction  North-East 
and  South-West,  and  separated  at  a  distance  of- a  quarter  of  a  mile.  Besides  a  third  vein  running  nearly  East  and  West. 
These  veins  have  been  worked  profitably  for  several  years,  and  are  at  this  time  worked  with  the  rude  machinery  of  the 
country,  as  much  so  as  ever  by  the  proprietor.  It  has  not  been  my  fortune  to  know  a  mine  in  which  the  results  have  been 
more  beneficial  when  the  capital  and  skill  have  been  so  disproportioned.  The  dip  of  the  veins  is  nearly  vertical,  enclosed  in 
a  wall  of  slate,  and  has  promise  of  great  permanence.  The  premises  afford  an  advantageous  water  power,  and  the  whole 
land  is  of  high  agricultural  value,  and  lies  beautifully — is  well  timbered,  and  has  numerous  buildings  well  constructed  and 
arranged  for  the  accommodation  of  hands.  The  veins  have  hitherto  been  worked  for  Gold,  and  the  yield  per  bushel,  by  the 
coarse  machinery  of  the  country,  has  varied  from  one  dollar  to  five  dollars  per  bushel — while  the  assay  value  of  the  ores  will 
rise  from  four  dollars  to  fifty  per  bushel.  At  the  water  level  a  depth  of  forty  to  sixty  feet,  there  are  exhibitions  of  Copper, 
both  in  the  form  of  carbonate  and  sulphuret,  which,  as  operations  have  discovered,  have  uniformly  increased  in  volume  and 
richness.  The  mine,  in  my  opinion,  without  particularizing  more  at  present,  is  one  of  the  most  valuable  in  the  Southern 
States — and  I  find  this  is  its  reputation  in  the  immediate  vicinity,  among  the  people  who  are  acquainted  with  it  by  practical 
experience." 

"  This  tract  of  land  lying  in  Mecklenburg  County,  North  Carolina,  consists  of  five  hundred  acres  or  more — is  located 
in  one  of  the  finest  agricultural  regions  in  the  South,  and  for  the  purpose  of  cultivation  in  consequence  of  the  proximity  of 
the  Railroad,  (nine  miles,)  is  very  valuable.  It  is  remarkable,  however,  for  the  number,  uniformity  and  extent  of  its  veins 
of  Gold  and  Copper.  Most  of  the  Gold  veins  in  the  South  are  found  on  hills  of  quartz  and  slate  of  greater  or  less  magni- 
tude— and  generally  give  derived  evidences  of  volcanic  action.  The  mining  surface  of  this  plantation  is,  however,  remarka- 
ble for  its  evenness,  and  in  fact  is  more  nearly  a  perfect  level  than  most  farms  in  the  region.  Two  of  the  veins  which  lie 
parallel  to  each  other  at  a  distance  of  a  quarter  of  a  mile,  are  traceable  for  nearly  half  a  mile,  without  the  slightest  inter- 
ruption. Shafts  have  been  sunk  at  the  distance  of  one  hundred  yards  along  these  veins  for  the  space  of  a  quarter  of  a  mile 
and  the  ore  has  been  found  abundant  and  accessible  in  veins  of  eight  inches  to  a  foot  in  thickness,  and  of  the  uniform 
value  of  $1  85  per  bushel — weighing  one  hundred  pounds — or  $35  to  $40  per  ton.  The  exhibition  of  Copper  at  two  of 
these  localities  is  very  striking,  and  the  Copper,  which  consists  of  sulphuret  and  carbonate,  increases  as  you  extend  below  the 
water  level." 

"The  Catha  farm  consists  of  one  hundred  and  twenty  acres,  situated  within  five  miles  of  Charlotte,  the  terminus  of  a 
railroad  which  connects  the  surrounding  country  with  Charleston,  S.  C.  as  its  market — and  is  well  timbered  and  of  good 
agricultural  value.  It  affords  two  veins,  crossing  each  other,  which  at  the  deplh  of  18-20  feet,  the  extent  of  the  operations 
at  present,  afford  a  valuable  Copper  sulphuret.  The  vein  at  this  point  is  from  two  to  three  feet  wide,  and  the  ores,  what  I 
have  seen,  are  worth  thirty  per  cent,  and  promise  to  be  very  extensive." 


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